What are the Elements of a Negotiable Instrument

A negotiable instrument is used for payment of a bill, debt, for credit or as a security. It is a promise by one person to pay another a specific sum of money on a specific date in the future. These include checks, promissory notes and bills of exchange. Some of the elements of a negotiable instrument, include naming of the person to whom the payment is being made on the bill or check, it must .